The Government of Saskatchewan has put in place new measures that will allow people facing financial hardship to withdraw a portion of their funds from their locked-in retirement accounts (LIRA) under certain circumstances. Under the new rules to access the funds, LIRA holders will be able to apply to the financial institution which issued the… Continue reading Funds In Locked-In Retirement Accounts Now More Accessible For People In Need
Tag: money
Mortgage Pre-approvals Rate Hikes Looms
Source: Tara Deschamps The Canadian Press, globalnews.ca, November 17, 2021 A rise in both mortgage and interest rates would end an almost two-year period of rock-bottom borrowing costs. Canadians are scrambling to get mortgage pre-approvals and rate holds before the era of low interest rates comes to an end, as some economists predict. Real estate… Continue reading Mortgage Pre-approvals Rate Hikes Looms
Simple Steps to Help You Beat Seasonal Stress
We all know that despite the holly and mistletoe, the holidays are not always jolly and bright for everyone. In fact, they can be quite stressful. Whether it’s finding the right gifts on time or wondering if you can afford them, this season is full of triggers for anxiety. Here are some practical tips to… Continue reading Simple Steps to Help You Beat Seasonal Stress
Taking Charge of Your Finances
About half of Canadians experienced a financial impact due to COVID-19. And women were disproportionally affected by the pandemic. If keeping up with bills and financial obligations has become a challenge, you’re not alone. There are ways you can begin to take charge of your personal finances once again. Know your options If you’re having… Continue reading Taking Charge of Your Finances
What the Hike in Interest Rates Means for Variable and Fixed Mortgage Rates
The Bank of Canada (BoC) has announced it’s keeping its trend-setting interest rate on hold for now, but borrowing costs for many Canadians are likely going up. Canada’s central bank has mentioned it is holding its key interest rate at 0.25 per cent, where it has been since March of 2020, hinting instead, that the first interest rate hike… Continue reading What the Hike in Interest Rates Means for Variable and Fixed Mortgage Rates
Canadian National Railway Q3 Profits Hit $1.69 Billion
Source: Ross Marowits The Canadian Press, October 20, 2021 Revenues increased 5.3 per cent to $3.59 billion, up from $3.41 billion. Canadian National Railway Co.’s embattled CEO is retiring in the new year, the railway says as it reported a big jump in third-quarter profits thanks in part to a $770-million after-tax break fee it… Continue reading Canadian National Railway Q3 Profits Hit $1.69 Billion
When Should You Start Your Child’s RESP Savings Account?
As a parent, if you’re simply focused on getting through this strange and challenging school year, you’re not alone. But while virtual and modified in-person classes may take up a lot of headspace, neglecting long-term plans is a costly mistake. This includes post-secondary planning. When it comes to making sure your child has a solid… Continue reading When Should You Start Your Child’s RESP Savings Account?
RRSP vs. TFSA: What’s the difference?
The pandemic has been challenging for everyone, and many of us are worried about the effect of COVID-19 on our savings and retirement plans. According to a recent TD survey, one in three (35%) Canadians say the pandemic has impacted their savings and retirement plans and one quarter (25%) of those affected have needed to… Continue reading RRSP vs. TFSA: What’s the difference?
What Canadians Need to Save for Retirement
Everyone wants to live well in retirement. But how much money does it take? A recent survey found that Canadians think they need an average of $4,000 in after-tax monthly income and around $800,000 in total savings to feel good about their financial future. The real numbers depend on your lifestyle, goals, pension and more,… Continue reading What Canadians Need to Save for Retirement
Global Supply Chain in Crisis
Source: Anne Drewa, globalnews.ca, September 28, 2021 In addition to delays, consumers can expect to pay more for goods as the supply chain crisis continues. Global shipping disruptions from container shortages to shipping backlogs have retailers warning consumers to start holiday shopping early. “If you see it, grab it because if you are waiting it… Continue reading Global Supply Chain in Crisis